SAIC/Ningde Times Join Forces to Develop Power Battery Business to Establish Two Joint Venture Companies

Anti-Monopoly Bureau of the Ministry of Commerce

Among them, SAIC Motor Battery Co., Ltd. has a registered capital of RMB 2 billion. SAIC Motor intends to hold 49% of the shares, and Ningde Times plans to hold 51% of the shares. The company will mainly be engaged in the development, production, sales and after-sales service of lithium-ion batteries, lithium polymer batteries, etc. SAIC Times Power Battery System Co., Ltd. has a registered capital of RMB 300 million. SAIC Management intends to hold 51% of shares, and Ningde Times plans to hold 49% of the shares. The company will mainly be engaged in the development, production and sales of power battery modules and systems.

In addition, the publicity also shows that in China's lithium-ion battery-related market, Ningde era market share of 20% -25%; in China's lithium-ion battery system (excluding batteries) market, Ningde era market share of 5% -10%, SAIC Group's market share is 1%-5%; in China's electric vehicle market, SAIC Group's market share is 1%-5%.

The original public notice reads as follows:

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